- PPI – anyone made a successful claim?
Me, from HSBC. The process was all rather simple, bank sent me a letter saying I may have been miss-sold it when I took out a loan year ago and would I fill in this questionnaire. I filled it in and about 6 weeks later received an offer from the bank, with 4 figure payout arrived 4 weeks later. They offered me a number which I could have appealled against and challenged, I decided not to as the number was pretty good anyway and, as I didn’t realise I took it out anyway, it was very much a bonus.
Interestingly I’ve just received a similar letter regarding a credit card I took out many years ago as well.Posted 4 years agomonkeyboyjcMember
Got a company to do it on our behalf for a 25% fee (+vat) on a ‘no win no fee’ basis.
Its taken about 12-18 months but we have quite a complicated finance history involving mutipul credit cards, banks loans etc – all of which were paid off and closed at the time of going for ppi hense getting a company to do the donkey work. All in we have got about 3.5k (less the fees) back from three seperate ppi claims.
We used Claims-Inclusive, after the initial forms we had to do a little chaseing, maybe 3 or 4 calls just to see how things were going and what was happening, but over all they were good. I’m sure there are companies with lower fees but over alk they were pretty good and the staff that delt with our claims seem competent and knowledgeable when spoken to.
If you have a relatively simple financial history then i’d do it your self. However two of our claims went to the financial ombudsman. All of which is achievable with out a third party but we just felt it easier to use a company for the potential multiple claims we had. If your doing it your self all the forms and info is on moneysavingexpert.comPosted 4 years agowobbliscottMember
Is this basically a free for all? Is there any way they can check if you were sold it? I am being hounded almost daily by the PPI claim people. I’m fairly certain i’ve never knowingly taken out PPI – its something i’ve always been aware of and actively looked for, but the fact i’m being hounded makes me start to think that maybe I have at some stage without knowing it and i’m on a list somewhere.Posted 4 years agomonkeyboyjcMember
You can check if you were sold it – look through your paper work or phone the company/s involved.
You’ll save money doing the process yourself – however for me it nade sense using a third party.
Different banks seem to have different approaches – a mate works a loyds and tells me they reject ever claim until the claiment goes to the financial ombudsman.Posted 4 years ago
1) sign up for free month Experian trial
2) print off credit report
3) write a letter to everyone, even if you know you never had ppi (obviously don’t do this for phone contracts etc)
4) they’ll get back you telling you that they are either investigating (good news), or that they can’t find any record (bad news)
5) wait, after a few weeks…the cheques will come in
This is all that the ppi companies do, it really is so simple to do. All you need to do is keep all the letters you send/receive, and cross them off the credit report.
Don’t forget to cancel Experian.
I got around 4.5kPosted 4 years ago
sc-xc that’s the kind of advice I was looking for, I’ve had loads of financial products over the years but never knowingly taken out PPI and can’t remember who half of them were with.
In the ‘good old days’ did PPI automatically added to loans, credit cards etc or would you know if you’d bought it?Posted 4 years ago
Credit reports only stretch back six years I’m afraid, a period of time agreed between the industry and the regulators. Your report may show accounts opened much longer ago than this of course, but only where they were active within the last six years.
Bummer, no way of finding out who I had the loan with now…Posted 4 years agoscott bMember
Any idea how far back you can claim or that people have been successful with? I had an initial loan when I was 18 then got a further loan to pay the first one and buy a new car both had PPI as far as I know. This was probably in 1995 ish. I know who they were with but have no paperwork anymorePosted 4 years agojuankingSubscriber
It transpired I had PPI on a couple of HSBC credit cards. I didnt even realise this was the case but HSBC sent me a letter informing me along with a simple claim form. After repeated nudging from Mrs King I completed and returned them. A couple of weeks later HSBC called me and asked a few questions which were simple enough to answer. Then mid December received an offer of 11k which i accepted. Very simple process and do not use a claims firm.Posted 4 years agochunkymonkeyMember
Same as a few of the above, had a letter from The Halifax saying I may have been mis-sold PPI on a loan I took out maybe six or seven years ago. Filled their forms in, at length, and chatted to one of their advisors when a couple of things needed checking. Said they would make a decision in two weeks, bang on two weeks later a cheque arrived for over £1600. I have since downloaded the pre-written letter on Moneysavingexpert and sent it off together with a form to Barclays whom I had a credit card with years ago.
Ring your bank, tell them you think you may have been mis-sold PPI and they are obliged to help!Posted 4 years agokcrMember
Don’t use claim handling companies – they’re a rip off.Posted 4 years ago
We just got £4800 back from a mortgage PPI that we were told we had to have.
Ends up Mrs Coolhandluke wasn’t even on the policy 😯
Mrs Coolhandluke did all the paperwork stuff, they called one day when I was in and asked me a load of questions about the policy, good job I was listening that day!
We didn’t see the point of asking a company to claim when we’d still have to hunt for the paperwork.Posted 4 years agonickcSubscriber
a mate works a loyds and tells me they reject ever claim until the claiment goes to the financial ombudsman.
my £3.5k is with the FO now. LLoyds’ defence is essentially “Yes we lied in order to get you to sign, but we don’t think that’s a good enough reason to give you you’re money back…”
FO have suggested it might take as long as 2 years.Posted 4 years agoCaptain PugwashMember
Yep, had 2 from Lloyd’s bank, the first I chased with them and paid out £1500 the second claim THEY WROTE TO ME! Asking whether there was a claim on 2 old loans I had and both paid out £3500. It’s dead easy to claim, if you know you’ve had a loan phone the bank and enquire, if they get funny threaten them with the Finical Services Ombudsman, that focuses their minds. Once the ball is rolling its easy a quick questionnaire and they do the rest.
Do not use one of the “services” companies you’ll only give them your money.Posted 4 years agospacemonkeyMember
I’ve been meaning to do this for a couple of years so think I’ll get on the case now.
I’ve got my Experian report listing all credit agreements for credit cards (not any bank loans though). None of these display card/account numbers either. Do I literally just write to each lender stating name, address (at the time of using them), start date and ask them to pay me?Posted 4 years ago
Well, one (not so quick) phone call to Barclays last night established that I had 2 PPI policies related to overdrafts in the late 90’s!
I had no idea that you could even get PPI on overdrafts, so clearly I wasn’t aware the policies had been ‘sold’ to me.
They’re investigating the complaint & will respond within 8 weeks.
Now to trawl through the rest of my financial history and see who else might have ripped me off in the past!
Any tips on finding details of historical (I’m talking 20 years ago) ccounts/loans etc gratefully received…..Posted 4 years ago
Spacemonkey – exactly what I thought.
However, I actually rang Barclays to ask if my credit cards had PPI on them (turns out they didn’t), but it was them that mentioned the overdrafts and she then gave me the PPI policy numbers and transferred me to the claims department to make the complaint.
I guess they might not all be as forthcoming, but I intend to find out over the next week or so!Posted 4 years agojulianwilsonMember
fwiw my experience with claiming from Lloyds (June/July last year) was pretty good. Took a few phone calls (and for some reason they phoned me and I couldn’t get a number to ring them) but it was always the same guy who rang me and given my relatively poor recollection of it all (ppi was started in 1999), I was pleasantly surprised they coughed up! I now have no overdraft and a road bike. 😀 😀Posted 4 years agoD0NKSubscriber
will they not just say “No, you didn’t. Goodbye.” as we have no evidence saying otherwise?
after a couple of years repeatedly telling my mrs to fill in the ready made PPI claim form available online her credit card company wrote to her saying “we ripped the piss out of you via ppi so fill in this short form and we’ll give you a few hundred quid.”Posted 4 years ago
I may have paraphrased that.
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